Chicago Partners Investment Group LLC Acquires 366 Shares of BlackRock, Inc. (BLK)

Chicago Partners Investment Group LLC increased its holdings in BlackRock, Inc. (NYSE:BLK) by 305.0% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 486 shares of the asset manager’s stock after purchasing an additional 366 shares during the quarter. Chicago Partners Investment Group LLC’s holdings in BlackRock were worth $243,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in BLK. Thrivent Financial for Lutherans raised its stake in BlackRock by 3.0% in the 1st quarter. Thrivent Financial for Lutherans now owns 5,152 shares of the asset manager’s stock valued at $2,791,000 after purchasing an additional 151 shares during the last quarter. Glen Harbor Capital Management LLC raised its stake in BlackRock by 42.1% in the 1st quarter. Glen Harbor Capital Management LLC now owns 4,256 shares of the asset manager’s stock valued at $2,306,000 after purchasing an additional 1,260 shares during the last quarter. Gabelli Funds LLC raised its stake in BlackRock by 38.0% in the 1st quarter. Gabelli Funds LLC now owns 27,600 shares of the asset manager’s stock valued at $14,951,000 after purchasing an additional 7,600 shares during the last quarter. Gamco Investors INC. ET AL acquired a new position in BlackRock in the 1st quarter valued at about $567,000. Finally, Lido Advisors LLC raised its stake in BlackRock by 20.3% in the 1st quarter. Lido Advisors LLC now owns 1,738 shares of the asset manager’s stock valued at $941,000 after purchasing an additional 293 shares during the last quarter. Institutional investors and hedge funds own 82.79% of the company’s stock.

NYSE BLK opened at $487.14 on Friday. BlackRock, Inc. has a 12 month low of $431.40 and a 12 month high of $594.52. The company has a debt-to-equity ratio of 0.88, a current ratio of 3.87 and a quick ratio of 3.87. The stock has a market cap of $77.16 billion, a PE ratio of 18.95, a P/E/G ratio of 1.50 and a beta of 1.54.

BlackRock (NYSE:BLK) last posted its quarterly earnings data on Monday, July 16th. The asset manager reported $6.66 EPS for the quarter, beating the Zacks’ consensus estimate of $6.55 by $0.11. BlackRock had a net margin of 38.97% and a return on equity of 13.20%. The company had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3.58 billion. During the same quarter in the prior year, the company posted $5.24 EPS. The company’s quarterly revenue was up 11.4% compared to the same quarter last year. analysts expect that BlackRock, Inc. will post 27.73 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, September 24th. Stockholders of record on Friday, September 7th will be issued a dividend of $3.13 per share. The ex-dividend date is Thursday, September 6th. This represents a $12.52 dividend on an annualized basis and a dividend yield of 2.57%. This is a boost from BlackRock’s previous quarterly dividend of $2.88. BlackRock’s payout ratio is presently 55.40%.

In other news, Director William E. Ford bought 1,000 shares of the firm’s stock in a transaction dated Wednesday, July 18th. The stock was acquired at an average price of $507.98 per share, for a total transaction of $507,980.00. Following the acquisition, the director now owns 4,400 shares of the company’s stock, valued at $2,235,112. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Chairman Laurence Fink sold 19,800 shares of the business’s stock in a transaction dated Wednesday, July 18th. The stock was sold at an average price of $507.67, for a total value of $10,051,866.00. Following the sale, the chairman now owns 1,098,328 shares of the company’s stock, valued at approximately $557,588,175.76. The disclosure for this sale can be found here. 1.86% of the stock is currently owned by insiders.

Several research analysts recently weighed in on the stock. Citigroup raised shares of BlackRock from a “neutral” rating to a “buy” rating in a research note on Monday, June 18th. ValuEngine downgraded shares of BlackRock from a “buy” rating to a “hold” rating in a research note on Friday, June 15th. Keefe, Bruyette & Woods raised shares of BlackRock from a “market perform” rating to an “outperform” rating and set a $590.00 target price for the company in a research note on Friday, July 13th. Barclays cut their target price on shares of BlackRock from $615.00 to $595.00 and set an “overweight” rating for the company in a research note on Tuesday, July 17th. Finally, Goldman Sachs Group dropped their price objective on shares of BlackRock to $570.00 and set a “buy” rating for the company in a research note on Tuesday, July 17th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. BlackRock has an average rating of “Buy” and a consensus target price of $594.25.

BlackRock Profile

BlackRock, Inc is a publicly owned investment manager. The firm primarily provides its services to institutional, intermediary, and individual investors including corporate, public, union, and industry pension plans, insurance companies, third-party mutual funds, endowments, public institutions, governments, foundations, charities, sovereign wealth funds, corporations, official institutions, and banks.

Further Reading: Stock Symbols and CUSIP Explained

Want to see what other hedge funds are holding BLK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BlackRock, Inc. (NYSE:BLK).

Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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